Seoul shares down for 3rd day on U.S. tech slump

South Korean shares closed lower Tuesday to extend their losing streak to a third day, taking a cue from overnight losses on Wall Street. The local currency fell against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) shed 8.76 points, or 0.32 percent, to close at 2,689.25. Trade volume was light at 259.7 million shares worth 7.95 trillion won (US$5.97 billion). Winners, however, outnumbered losers 434 to 423. Institutions bought a net 36.9 billion won worth of shares, while individuals and foreign investors combined offloaded a net 40.9 billion won. Overnight, major U.S. indexes closed mixed as the Dow Jones Industrial Average increased 0.16 percent, while the S and P 500 and tech-heavy Nasdaq composite fell 0.32 percent and 0.85 percent, respectively. Source: Yonhap News Agency